Ncgcare, Inc. 401(k) Review & Grade
Ncgcare, Inc. 401(k) Profit Sharing Plan
Richmond, VAHealth Care & Social Assistance1,275 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4Employer $ per active participant
$1,253Employee $ saved per active participant
0.80%Direct admin cost, % of plan assets
$15.1MNet plan assets, end of year
$18,846Average balance per account
Score breakdown
- Employer generosity4.1 / 508th percentile for employer $ per participant
- Low cost2.5 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving4.3 / 1528th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score0 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 8th |
| Lower admin cost | 10th |
| Employee saving | 28th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($411 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $63,460 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ncgcare put in about $4 per active participant, below the typical peer ($976). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.80% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $5,424 |
| Participant (employee) contributions | $1,598,181 |
| Other contributions (incl. rollovers in) | $45,283 |
| Administrative expenses paid from the plan | $120,253 |
| Contract administrator fees | $57,749 |
| Investment advisory & management fees | $21,211 |
| Other admin expenses | $41,293 |
| Benefits paid out | $3,486,171 |
| Net assets, start / end of year | $14.8M / $15.1M |
| Active participants, start / end of year | 1,323 / 1,227 |
| Participants with account balances | 803 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pbmares, LLP |
Largest service providers (Schedule C)
| DWC Erisa Consultants LLC | $41,293 reported compensation |
| John Hancock Life Insurance Company | $29,657 reported compensation |
| Empower Annuity Insurance Company | $28,092 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015185751NAL0007112224001, received 2025-10-15, EIN 47-4934539, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.